Tag Archives: Personal Finance

CFPB Acts Against Payday Lender for Pressuring Consumers into Debt Cycle

Consumer Financial Protection Bureau, July 10, 2014 ACE to Pay $10 Million for Illegal Debt Collection Tactics  WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took enforcement action against ACE Cash Express, one of the largest payday lenders in the United States, for pushing payday borrowers into a cycle of debt. The CFPB found that ACE used illegal debt collection tactics – including harassment and false threats of lawsuits or criminal prosecution ...

Activists Denounce Payday Lending Bill Passed by Legislature, Sent to Governor

Advocates for Fair Lending Urge Governor to Veto Bill St. Louis Post-Disptach, May 1, 2014  JEFFERSON CITY • Regulations passed by the Missouri Legislature Thursday to restrict payday loans don’t go far enough for some community and faith-based groups. Supporters of the legislation said the bill provides protections for consumers while still allowing payday lenders to operate and provide emergency loans for individuals who need them. Bill sponsor Sen. Mike Cunningham, R-Ro ...

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